Surety Bonds

Aging Infrastructure: What’s Ahead?

08.13.2021

C-! That’s the current score for our country’s infrastructure. With critical projects on the list in every state, a large federal investment continues to be anticipated. Major commitments to construction of public transit and bridges are pending.

Infrastructure Commitments?

As lawmakers continue on the long and winding road to national spending agreements, experts remind us that infrastructure weaknesses impact all of us every day—and come at a cost. With agreements making their way through the government, Construction Dive reports:

Tom Smith, executive director of the American Society of Civil Engineers, commended the much-needed bipartisan agreement. The ASCE gave the U.S.’s infrastructure a C- in its 2021 report card, indicating the nation’s aging framework is not up to snuff. Additionally, 171.5 million vehicles cross over 45,000 structurally deficient U.S. bridges in poor condition every day, according to the American Road and Transportation Builders Association.

 That poor infrastructure impacts both business and citizens. Households in the U.S. continue to lose $3,300 a year due to aging infrastructure, Smith said, and businesses know that solid infrastructure lays the foundation to be competitive in a global economy.

So what’s on the docket for federal attention? Anticipated commitments include: Bridge repair, airport maintenance and modernization, port infrastructure, transportation safety, community reconnection, electrhigh speedic vehicles, clean drinking water and high-speed internet expansion to more Americans.

 Ready to dig in? How’s your bidding going? How about a surety line of credit you can count on? Achieve more with help from Colonial Surety. Colonial’s taken the pain—and delays— out of the old fashioned bonding process, making it faster, easier—and more confidential than ever—for contractors to obtain, manage and monitor needed bid, performance and payment bonds. Contractors who complete a speedy qualifying app for Colonial’s surety line of credit even receive, for free, Dun & Bradstreet scores.

Pre-qualify and Receive Free Scores Here!

 Once approved for The Partnership Account®  with Colonial, you’ll:

 

  • Use your private Owner’s Dashboard® for a personal window into your underwriting profile. Review the statistical analysis of your financial statements and free Dun and Bradstreet scores, profitability, and more.

 

  • Access a powerful online surety management system to issue bid bonds, order performance, and payment bonds, update work in progress, check your current and aggregate limits, view open and closed bid and performance bonds, and more.

 

  • Clearly see your bonding limits, and always have direct access to our underwriter if you need the excess capacity to bid on a job.

 

  • Protect the confidentiality of your bids—after all, no one’s in the middle when you do it yourself, right?

 

Cross The Bridge Today: The Partnership Account®

 

 

 

Who’s Still Waiting?

Many cities and states across the country are already hustling to modernize airports  and create new transit connections for walkers, bikers and rail riders. Highway expansion is underway too. With plenty of building to do everywhere, you must have something on your list to win. Don’t find yourself shuffling around the old fashioned way when the bid bond is due. Let’s get you ready now with The Partnership Account®  from Colonial Surety Company. Then, you can go after lots more new projects with speed and confidence — knowing your bidding and financial information is secure.

 

 

How About Now: The Partnership Account®

Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!